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    Net-Leased Home Improvement Retail Title is generated by Realmo AI

    490 McKinley Street, Corona, CA 92879

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    Single-tenant Home Depot with remaining primary term and scheduled rent increases in a regional shopping center.

    Type:Retail
    Property size:
    100,000 SF
    Lot size:
    8.82 Acres
    Price / SF:
    $299/SF
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 4:32 am

    Property Features for 490 McKinley Street

    General Information

    Standard status
    Active
    Size
    100,000 SF
    Lot size
    8.82 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1989

    We can help!

    Listing Contact
    Chris Bosworth
    Chris Bosworth

    Listing agent Chris Bosworth License #GA 248342

    Listing office CBRE - Atlanta

    Listing date May 28, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of CBRE - Atlanta

    HighLights

    • 100,000 SF single‑tenant Home Depot on 8.82 acres in Corona, CA (Home Depot in Corona Hills Plaza).
    • Net lease has 8.7 years remaining in the primary term and includes a scheduled 8.13% rent increase in 2030.
    • Lease includes two 5‑year renewal options with 10% increases at the start of both renewal options.
    • Situated at 480 N. McKinley Street with access and visibility along State Route 91 (~220,000 VPD) near the I‑15 interchange.
    • Home Depot serves as a central anchor in the 489,151 SF Corona Hills Plaza with national retailers including Costco and TJ Maxx.

    Overview

    CBRE is pleased to offer for sale a 100,000-square-foot Home Depot on 8.82 acres in Corona, CA. The property is occupied under a net lease with approximately 8.7 years remaining in the primary term. The lease includes an 8.13% rent increase in 2030, plus two additional 5-year renewal options with 10% rent increases at the onset of each option. The offering represents a stabilized single-tenant retail asset anchored by Home Depot.

    Home Depot serves as a central anchor of Corona Hills Plaza, a 489,151-square-foot shopping center. The center is home to a mix of national retailers including Costco, TJ Maxx, Ross Dress for Less, Five Below, Dollar Tree, and Big 5 Sporting Goods, along with dining concepts such as Lazy Dog Restaurant & Bar and Texas Roadhouse. The property is located at 490 McKinley Street and is positioned for visibility and access along State Route 91 (approximately 220,000 VPD) near the I-15 interchange, with direct connectivity off the McKinley Street exit.

    For investors seeking a net-leased, single-tenant retail purchase with contractually defined remaining term and scheduled rent steps, this Home Depot provides a straightforward tenant/lease structure within a broader retail destination serving regional demand.
    Location Intelligence

    Current Use by Public Records

    911 Mobile Mechanic Auto Repair Shop Plumbing Repair Service ... Plumbing Service Compact Power Equipment ... (Bike/Boat/Book/etc) Store Pro Desk at The Home ... Big Box & Wholesale Store Home Services at The Home ... General Contractor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Riverside
    State
    California
    Longitude
    -117.5251081
    Latitude
    33.8851722

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    FAQs

    What type of property is this?
    Retail space - Single-tenant Home Depot with remaining primary term and scheduled rent increases in a regional shopping center.
    Where is this retail space located?
    The property is located at 490 McKinley Street Corona, CA.
    What is the asking price?
    The asking price for this property is $29,906,542.
    What are key features of this property?
    This property features: 100,000 SF single‑tenant Home Depot on 8.82 acres in Corona, CA (Home Depot in Corona Hills Plaza).; Net lease has 8.7 years remaining in the primary term and includes a scheduled 8.13% rent increase in 2030.; Lease includes two 5‑year renewal options with 10% increases at the start of both renewal options.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Bosworth
    Chris Bosworth
    Real Estate License ID: GA 248342
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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